Cedar Health | Application Preview
Cedar Health is seeking government grants to cover approximately half of its first-year rent, which will help them stabilize while securing insurance contracts. The organization is an outpatient mental health provider committed to offering both in-person and virtual services, aiming to broaden access to care in the community. Their initial plan is to establish a clinic in Arizona, with intentions to expand to a second location in Tucson based on demand, and to open new locations every 6-8 months across the state. Market analysis suggests a strong potential for up to six clinics in Arizona, likely creating waitlists due to demand.
The founder, who has over a decade of healthcare experience, emphasizes a strong commitment to the community, having grown up in the area they intend to serve. The company's mission focuses on providing accessible mental health resources, particularly targeting adolescents, young adults, and postpartum mothers—demographics that are underserved in the region.
Cedar Health faces some competition from behavioral health platforms in Arizona; however, they differentiate themselves by exclusively targeting mental healthcare for youth and offering a unique model that prioritizes smaller group therapy sessions for effective, individualized care. This approach mitigates the pressures of high patient volume while ensuring quality treatment. The founder's personal investment in the business, without reliance on outside financial investors, underscores their dedication to achieving a community-centered model of care focused on improving mental health outcomes.
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General Information
Business Registration Number: T3084071
Location: New York, NY, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
This would simply cover rent for roughly half our first year, giving us time to get our contracts for insurance in order.
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Business Plan
We are an outpatient mental health company that believes in both in-person, as well as virtual services. Virtual services allow us to reach a greater proportion of the population and supplement our in person offerings. Once our first clinic is up and running, we plan to open a second one in the state of Arizona. Depending on the demand, the second one could be in Tucson as well. And from there, we plan to open up new locations every 6-8 months throughout the state. General market analysis shows we could open up 4 locations in Phoenix, with 2 in Tucson and be able to fill them all, with a likeliness of having a wait list. As the owner, I've been in healthcare for over 10 years. I've attended medical school, worked on Wall Street as an investment banker and experienced the startup scene. I know what it takes to run a successful business and have a vested interested, as I'm from Arizona. My mission is pure and a true community and grassroots operation meant to help the residents and families as much as we can. I grew up in the neighborhoods that I want to help and that's why I'm striving to be a strong Medicaid provider - as I want the communities that need the help to have the resources available.
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Self Identified Competition
There are some behavioral platforms in Arizona that do similar things but there is not a direct competitor that is offering mental healthcare specifically to adolescents/young adults/postpartum mothers at the same time. Some of the places that offer group therapy focus specifically on substance abuse, which we don't. Others have been bought by private equity or other strategic buyers and have lost their mission, with quality of clinical work decreasing significantly. Arizona is in dire need of an adolescent Intensive Outpatient (IOP) program and we plan to provide that. I created a business model that allows us to be successful financially without monetizing healthcare. What I mean by that is our group therapy is limited to 10 people, maximum of 12 if necessary. Our group therapy is our main offering and we don't need to worry about volume of patients to be successful. Filling a group with 10 kids put us at maximum revenue for our business model and allows us to provide individualized care and strong clinical work to get improvement in our community's mental health, which is our main goal. Additionally, this company is being funded just by myself. I'm not coming in with financial investors with different or misaligning motives. I know exactly what I want this to look like and am working day and night to make it happen.
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Contact Applicant
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